French car manufacturer Renault plans to develop an
ultra-cheap car with a price tag of 2,500 euros ($3,363 dollars),
French business daily La Tribune reported Wednesday.
The no-frills small car would be aimed primarily at developing countries but may later be marketed in Europe, the report said.
At 2,500 euros, it would be around a third the cost of the Dacia Logan, a family car produced by Renault and its Romanian subsidiary Dacia that sells in France for 7,700 euros.
The cheapest car in the world is currently produced by India's Tata. The Tata Nano, nicknamed the People's Car, sells for around 15,000 rupees (about $2,800 dollars).
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Some California Cities Seeking Water Independence
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Will Missing Malaysian Jet Prompt Aviation System Change?
- GM Recall Poses First Major Test for New CEO
- Obama Seeks to Stay Neutral in CIA-Senate Conflict